China surprised the World with another strong month of recovery
Industrial production in China rose more sharply in August than economists in general expected. Against the expectations of shopkeepers in the second largest economy in the world last month also more than a year earlier, according to China’s National Statistical Office.
According to statisticians, China’s large industrial sector accounted for an annual production increase of 5.6 percent. In general, economists expected a plus of 5.1 percent. Measured since the turn of the year, industrial production is now a fraction higher than in the same period in 2019.
Retail sales increased 0.5% a year. Here the overall expectation was that sales would not increase, but would not decrease. This sector had previously suffered severe lockdowns against the coronavirus. In the first eight months of the year sales were 8.6% lower than a year earlier.